SPIFFs do more than amuse employees and boost morale; they help ensure vendors get their latest products into consumers’ hands.
That rings true with VP of Sales and Investment Operations Daniel Amato, who started with Hometap Equity Partners in 2018. Hometap uses these incentives to keep sales teams both focused and motivated. “We look for opportunities to spotlight the achievements and successes of our sales team members, and we encourage our team members to pursue their passions by allowing them to delve into specific areas they are enthusiastic about,” Amato explained.
Incentives, financial or otherwise, should match your culture and your needs. Timeless classics in the SPIFF portfolio include off-site getaways, international vacations, golf outings, meals and spa trips. Modern, trendy offerings like subscription boxes and food delivery are becoming increasingly popular.
George Nammour, Director of Business Development at Lusha, says he’s seen sales goals create accountability to accomplish a shared goal. Built In recently spoke with Nammour and Amato to hear more about how these programs can bring any company together.
Hometap Equity Partners offers solutions that enable people to get more from homeownership so they can get more from life.
Describe your company’s sales culture. What makes it unique?
Our sales team's culture is defined by a passionate group of individuals who genuinely care about the success of everyone around them. This shared enthusiasm creates a dynamic environment in which each team member is invested in the achievements of their colleagues. Trust is a cornerstone of our culture, and there is a high level of confidence in knowing that the person next to you is always ready to provide support and assistance.
Collaboration and transparency are deeply ingrained in our sales culture. Team members actively work together, sharing knowledge and insights to drive collective success. This open and cooperative atmosphere fosters a sense of safety, allowing individuals to bring their whole selves to work and be authentic.
Our team members find genuine excitement in the work they do each day, knowing that it contributes to a greater purpose.”
One unifying aspect of our sales culture is the passion we all share for our mission. Our team members find genuine excitement in the work they do each day, knowing that it contributes to a greater purpose. This enthusiasm allows individuals to be themselves, express their creativity, and bring their unique strengths to the forefront.
What are the non-monetary spiffs, incentives and rituals your team uses to stay motivated?
Our sales team stays motivated through a variety of strategies that focus on career development and recognition. One key aspect is career pathing; team members have visibility into the potential growth and advancement opportunities within our organization. This clarity about and understanding of their professional trajectory at Hometap serve as a powerful motivator for our sales team.
We look for opportunities to spotlight the achievements and successes of our sales team members, and we encourage our team members to pursue their passions by allowing them to delve into specific areas they are enthusiastic about.
We organize Toastmasters competitions where participants compete for the chance to attend conferences where they can gain exposure to industry expertise and networking opportunities. We also conduct mock call practices to refine their sales techniques, with winners gaining access to additional development opportunities.
What do you or your team enjoy most about these spiffs, incentives or rituals?
What our team appreciates most is that these incentives provide a sense of direction and purpose, allowing them to actively progress in their careers, while feeling supported and motivated along the way. They join us with a clear understanding of where they currently stand and the steps they need to take to achieve their desired career goals. This alignment between personal aspirations and incentivized opportunities fosters a sense of purpose and fulfillment within our team.
Lusha helps business leaders forge strong connections with leads, contracts and candidates through its savvy go-to-market platform. Lusha counts leaders from Google, Amazon, and Apple among its top customers.
Describe your company’s sales culture. What makes it unique?
What makes our sales culture unique is our talent and positive environment. We’ve built a team-centric environment that empowers salespeople with the motivation for professional and personal development, all while contributing to the growth of Lusha. The combination of these areas has been significant in creating a winning culture that stands out and drives exceptional results.
We focus on individual skill development alongside ongoing training, recognition, collaboration, and internal career advancements. By doing so, we’ve put ourselves in a favorable position to foster a positive culture and unlock our reps’ full potential by creating accountability and motivation towards a common vision.
What are the non-monetary spiffs, incentives and rituals your team uses to stay motivated?
Aside from hitting a gong every time a deal is closed and leveraging gamification platforms, we've found that "floaters" (i.e. bonus days off) have been a very motivating spiff. There's nothing that drives higher engagement and job satisfaction than a half day Friday or a full day "floater.”
We're also running monthly spiffs around specific KPIs which promote collaboration and healthy competitions – last month our top winner received an electric scooter. This month’s prize is a Dyson Supersonic Hair Dryer.
We try to make a significant effort to celebrate our wins individually and as a team.”
We try to make a significant effort to celebrate our wins individually and as a team. This is key to having a positive and engaged sales environment.
What do you or your team enjoy most about these spiffs, incentives or rituals?
We enjoy celebrating success, seeing the impact of the results on our business and increased sales performance. Celebrating wins through spiffs, incentives or rituals ultimately improves employee engagement and job satisfaction, all while contributing to the success of Lusha.
